“學術午餐會”是韦德体育bevictor面向青年教師搭建的學術交流平台，旨在促進學術交流、激發科研靈感、碰撞思想火花、拓展學術朋友圈。每次午餐會由一位主講嘉賓分享相關研究的選題過程、領域概況、研究方法和創新性結論等。在彙報分享過程中，主講嘉賓和與會師生可同時享用學院提供的美味午餐，并展開深度交流。

本期“學術午餐會”由韦德体育bevictor中國經濟與管理研究院2022級博士研究生馬高平擔任主講嘉賓。

嘉賓介紹

馬高平，韦德体育bevictor中國經濟與管理研究院2022級博士研究生。主要研究方向為實證資産定價，商品市場，行為金融等。

分享主題

Noise or Fundamentals? The Predictive Role of News and Social Media in the Crude Oil Market

摘要

This study examines the impact of traditional news and social media platforms on the crude oil market. We discover that news media predicts crude oil returns without subsequent reversals, suggesting that news media provide information not already reflected in crude oil price. In contrast, the predictive power of social media exhibits significant reversals yet retains a positive long-term impact, indicating its influence stems from a mix of fundamental information and noise with fundamentals playing a dominant role. Further, we explore what fundamental information are contained in news media and social media. We show that news and social media can forecast announcements related to crude oil inventories changes. We also demonstrate that the information from news and social media does not entirely overlap. One possible reason for the different information content of social media and news media is that they reflect the views of different types of investors. Our study provides important implications for regulators to enhance their monitoring of misinformation on social media and for market participants to understand the informational elements of news and social media platforms.

時間

2024年5月24日（星期五）12:00-13:30

地點

學術會堂712

活動對象

韦德体育bevictor教師

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